Minimum Wage Updates around July 1
If you see a message that looks like this, it means an End of Financial Year minimum wage update is ready:
A minimum wage update comes up when the base rates and allowances in your Tanda Award are ready to be updated based on the latest Fair Work data.
1. Telling Tanda When Your New Year Starts
To update your award, you will first need to set the date from which the new rates apply, for each managed award in your account. This will usually be the start of your first full pay period after July 1st. For example, if your current pay period is Monday 27th June to Sunday 3rd July, you should set the new rates to apply from 4th July.
To do this, click “View award updates” or click this link. You should see this page:
Click the “choose new financial year dates” button and you’ll see this screen. From here, choose the first day of the first pay period for the new financial year.
Then click save.
2. Installing New Award Rates
Once you have completed the last pay run of the old financial year in your payroll software, you’re ready to install your new rates for the new financial year in Tanda. To do this, click the “Update award to new year” button here. This button will only appear once you are in your new pay period (based on the dates you chose in step 1).
When you click this button, Tanda will install pay rates for the new year. After a few minutes, please check that timesheets for pay periods in the new year have been updated to the correct rates.
For MYOB AccountRight Live and Xero customers, staff pay rates in your payroll system will automatically be updated as soon as you click this button.
For MYOB Desktop and Reckon Accounts customers, you will need to update the rates in your payroll after finalising your payroll for last financial year. When you click the update button, you’ll be redirected to a report of new pay rates for the new year.